CRUDE SUMMARY: Market confident OPEC will comply with cuts

摘要

LONDON (ICIS)--Crude oil futures on Friday opened slightly higher than compared with the previous session and remained relatively range-bound through Asian trading with OPEC member Kuwait telling customers it would cut supplies as part of a landmark agreement to reduce a global overhang. There was a brief dip in prices with traders looking to sell out long positions. However, Brent and WTI did rise back up with confidence in the market that major oil-producing countries will comply with agreed output curbing measures.